3355 Lexington Rd · Montgomery, AL 36106

$249,900

4 bd · 1.0 ba · 2,397 sqft · MultiFamily public records · 178 Days on market

Built 1935 Est $230k · 9% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.1/30.0
• DSCR +5.0/10.0
• Rent growth +4.1/5.0
• 1% rule +3.7/10.0
• ARV discount +3.6/15.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

Key facts

• Updated baths
• Sunroom
• Updated kitchens

Tags

• UPDATED KITCHENS
• UPDATED BATHS
• NEW KITCHEN APPLIANCES
• NEW ROOF
• ENCLOSED FRONT PORCH
• SUNROOM

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive. Per door: $63/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $218k (12.8% below list).
• Recommended offer: $218k (12.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 65/100 on livability (#138 in AL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools C-, employment D, crime F.
• Montgomery County (urban): math 9% / reading 31% proficiency, ranked #106 of 129 in AL (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.3%/yr); 137 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 460 units permitted in Montgomery County in 2024 (37 in 5+ unit buildings).
• This rent runs 38% of the median local income ($69k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Montgomery County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask is 19123% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $185k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $217,900 (12.8% below list)

Questions for the listing agent

1. It's been on market 178 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.87% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.17%
• DSCR: 1.10
• GRM: 9.6

CMA / ARV

• ARV (median comp): $230,070
• List price: $249,900
• Delta: 8.62%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.29% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.64×
• Total profit: $-25,049
• Equity at exit: $37,261

10-year hold

• IRR: 3.7%
• Equity multiple: 1.30×
• Total profit: $21,064
• Equity at exit: $21,607

Cash invested: $69,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Alabama: 90 Strongly Landlord-Friendly · R+15
• County: — inherits STATE
• City: — inherits STATE

Right-to-evict in 7 days for non-payment; no rent control; preempted statewide; courts move quickly.

Methodology + full state rankings →

ZIP-level market 36106

• Home prices YoY: -13.1%
• Rents YoY: 6.3%
• Active inventory: 137
• Price-to-rent: 19.1×

Monthly cashflow live

• Estimated rent: $2,179 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$181 /mo · $2,166/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $126

Break-even live

Break-even rent $2,019

Max offer price $249,900

Occupancy floor 89%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,180
Total (2 units)			$2,179

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
640 Plymouth St Montgomery, AL	5.0	3.0	3224	$2,400	$0.74	20d	1	0.08mi
3485 Wellington Rd Montgomery, AL	3.0	2.0	2437	$1,395	$0.57	20d	1	0.14mi
3235 Norman Bridge Rd Montgomery, AL	3.0	1.0	1873	$900	$0.48	43d	1	0.15mi
3304 Gilmer Ave Montgomery, AL	4.0	2.0	2009	$1,400	$0.70	20d	1	0.36mi
139 Mount Vernon Dr Unit A Montgomery, AL	4.0	2.5	1700	$1,000	$0.59	43d	1	0.50mi
3543 Berkley Dr Montgomery, AL	4.0	2.0	2067	$1,575	$0.76	13d	1	0.56mi
3510 Bankhead Ave Montgomery, AL	3.0	3.0	2210	$2,250	$1.02	43d	1	0.61mi
3544 Southmont Dr Montgomery, AL	4.0	1.5	1774	$1,300	$0.73	20d	1	0.63mi
3556 Princeton Rd Montgomery, AL	4.0	2.0	2718	$1,200	$0.44	20d	1	0.67mi
1029 Magnolia Curv Montgomery, AL	3.0	2.5	3134	$2,695	$0.86	13d	1	0.69mi
334 Felder Ave Montgomery, AL	3.0	2.0	2223	$2,395	$1.08	43d	1	0.77mi
3720 Stanley Dr Montgomery, AL	4.0	2.0	1719	$1,650	$0.96	20d	1	0.95mi
1355 Magnolia Curv Montgomery, AL	3.0	3.0	2260	$1,800	$0.80	13d	1	0.96mi
144 Clanton Ave Montgomery, AL	4.0	2.0	3178	$1,595	$0.50	20d	1	0.99mi
1121 Felder Ave Unit 1043909P Montgomery, AL	4.0	2.5	2647	$3,152	$1.19	20d	1	0.99mi
1450 Crenshaw Pl S Montgomery, AL	3.0	2.0	1641	$1,775	$1.08	43d	1	1.01mi
1425 Blairwood Montgomery, AL	3.0	2.0	1700	$1,850	$1.09	13d	1	1.04mi
1259 S Lawrence St Montgomery, AL	3.0	1.0	1728	$1,300	$0.75	43d	1	1.05mi
1437 Beaumont Dr Montgomery, AL	4.0	2.0	2029	$1,500	$0.74	43d	1	1.06mi
1388 Adrian Ln Montgomery, AL	5.0	2.0	1701	$1,600	$0.94	13d	1	1.07mi
3963 S Court St Montgomery, AL	5.0	2.0	2000	$1,840	$0.92	43d	1	1.08mi
3902 Wesley Dr Montgomery, AL	5.0	2.0	1689	$1,595	$0.94	20d	1	1.14mi
1067 Roslyn Dr Montgomery, AL	4.0	2.0	1760	$1,125	$0.64	20d	1	1.16mi
2043 Hazel Hedge Ln Montgomery, AL	4.0	3.0	2001	$1,650	$0.82	13d	1	1.21mi
3616 Gaston Ave Montgomery, AL	4.0	2.0	1629	$1,300	$0.80	43d	1	1.26mi
22 W Cromwell St Montgomery, AL	4.0	2.0	1645	$1,350	$0.82	20d	1	1.34mi
2045 Bullard St Unit 1043526P Montgomery, AL	3.0	2.0	1797	$2,198	$1.22	43d	1	1.43mi
2009 Bullard St Montgomery, AL	5.0	2.0	1992	$1,975	$0.99	20d	1	1.47mi
2053 Gorgas St Montgomery, AL	3.0	1.0	1955	$1,200	$0.61	20d	1	1.49mi
1434 E Audubon Rd Montgomery, AL	4.0	2.0	2237	$1,475	$0.66	43d	1	1.49mi

Listing history 30 events

1. 2026-06-18
   days on market $249,900 Active 178 DOM
2. 2026-06-17
   days on market $249,900 Active 177 DOM
3. 2026-06-16
   days on market $249,900 Active 176 DOM
4. 2026-06-15
   days on market $249,900 Active 175 DOM
5. 2026-06-14
   days on market $249,900 Active 173 DOM
6. 2026-06-13
   days on market $249,900 Active 172 DOM
7. 2026-06-10
   days on market $249,900 Active 170 DOM
8. 2026-06-09
   days on market $249,900 Active 169 DOM
9. 2026-06-08
   days on market $249,900 Active 168 DOM
10. 2026-06-07
    days on market $249,900 Active 167 DOM
11. 2026-06-03
    days on market $249,900 Active 163 DOM
12. 2026-06-02
    days on market $249,900 Active 162 DOM
13. 2026-06-01
    days on market $249,900 Active 161 DOM
14. 2026-05-31
    days on market $249,900 Active 160 DOM
15. 2026-05-30
    days on market $249,900 Active 159 DOM
16. 2026-03-04
    status Active 490-char remark

    Show marketing remark (490 chars)

    This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

17. 2026-02-28
    historical Contingent 490-char remark

    Show marketing remark (490 chars)

    This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

18. 2026-02-18
    status Active 490-char remark

    Show marketing remark (490 chars)

    This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

19. 2026-02-11
    historical Contingent 490-char remark

    Show marketing remark (490 chars)

    This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

20. 2026-01-03
    listed $1,300
21. 2025-12-22
    listed $249,900 Active 490-char remark

    Show marketing remark (490 chars)

    This two unit (and possibly 3) investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units have updated kitchens and baths, new kitchen appliances, including gas range, built in microwave, dishwasher and refrigerator, and some new plumbing. New roof in 2024. Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage.

22. 2024-06-21
    historical $1,250
23. 2024-03-14
    listed $1,250
24. 2024-02-27
    status Pending 590-char remark

    Show marketing remark (590 chars)

    This three unit investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units underwent upgrades/renovations about 15 years ago (new kitchens and new baths. ) Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage has efficiency studio apartment above for additional rental income! This has been a great cash-flowing investment for its current owner, and at one time was rented solely to Maxwell Air Force students.

25. 2024-02-27
    soldstatus $185,000 Closed 590-char remark

    Show marketing remark (590 chars)

    This three unit investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units underwent upgrades/renovations about 15 years ago (new kitchens and new baths. ) Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage has efficiency studio apartment above for additional rental income! This has been a great cash-flowing investment for its current owner, and at one time was rented solely to Maxwell Air Force students.

26. 2024-01-31
    historical Contingent 590-char remark

    Show marketing remark (590 chars)

    This three unit investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units underwent upgrades/renovations about 15 years ago (new kitchens and new baths. ) Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage has efficiency studio apartment above for additional rental income! This has been a great cash-flowing investment for its current owner, and at one time was rented solely to Maxwell Air Force students.

27. 2024-01-26
    listed $210,000 Active 590-char remark

    Show marketing remark (590 chars)

    This three unit investment opportunity is located in desirable Cloverdale/Idlewild. Built as a duplex in the 1930's, the two main units underwent upgrades/renovations about 15 years ago (new kitchens and new baths. ) Unit 1 has an enclosed front porch for additional living space, and unit 2 has a sunroom which could swing as a child's room/3rd bedroom if needed. Detached 2 car garage has efficiency studio apartment above for additional rental income! This has been a great cash-flowing investment for its current owner, and at one time was rented solely to Maxwell Air Force students.

28. 2006-08-01
    soldstatus $138,000
29. 2006-07-28
    soldstatus $138,000
30. 2006-05-03
    listed $145,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast AL · Resets to sale price

• Current annual tax: $2,166 · $181/mo
• Projected year-2 tax: $2,166 · $181/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,148
• − Mortgage interest: −$13,998
• − Property taxes: −$2,166
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,092
• − Management: −$2,092
• − Depreciation: −$7,270
• Taxable loss: −$2,719
• Est. tax savings @ 24.0%: +$653
• After-tax cash flow: $2,168/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Montgomery County
• NCES district ID: 0102430
• Math proficiency: 9% ▼ -21.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $43,902
• Composite: 17.24/100
• National rank: #9093
• State rank: #106 of 129 in AL

Livability — Montgomery

• Score: 65/100
• State rank: #138
• US rank: #13416

Category grades

Amenities D- Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Montgomery, AL
• County: Montgomery County · 190,016 people
• City population: 175,913
• Metro: Montgomery, AL
• Population (ZIP): 14,065
• Household income: $69,087
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 876.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 224,008 people
• By 2030: 221,460 · -1.1%
• By 2040: 214,179 · -4.4%
• By 2050: 204,912 · -8.5%
• By 2075: 177,821 · -20.6%
• By 2100: 145,134 · -35.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 47% Black 43% Hispanic / Latino 5% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Serbian 2% Slovak 2% Italian 1%
• Foreign-born: 4% · Canada, China, South Korea
• Languages at home: 94% English-only · Spanish 3%

Political lean MEDSL · Montgomery

• 2024 margin: Solid D (+30.7) · D 64.8% · R 34.1% · Other 1.1%
• 2008→2024 swing: +11.5pp toward D · 2008: 19.2pp · 2024: 30.7pp
• All cycles: 2024: D+30.7 2020: D+31.5 2016: D+26.2 2012: D+24.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.82%
• Current HPI: 151.1822
• Rent YoY: ▲ 6.29%
• Metro: Montgomery, AL
• State GDP YoY: ▲ 2.94%
• F500 in state: 4

Industry mix (Fortune 500 HQ in AL)

Industry	F500 HQs	Revenue
▸Financial Services	1	$8B
▸Healthcare	1	$5B

Price history

-99.1% since first listed

15 events — show timeline

• 2026-03-04 Relisted — MAAR
• 2026-02-28 Contingent — MAAR
• 2026-02-18 Relisted — MAAR
• 2026-02-11 Contingent — MAAR
• 2026-01-03 Listed for Rent $1,300 MAAR
• 2025-12-22 Listed $249,900 MAAR
• 2024-06-21 Rental Removed $1,250 MAAR
• 2024-03-14 Listed for Rent $1,250 MAAR
• 2024-02-27 Pending — MAAR
• 2024-02-27 Sold (MLS) $185,000 MAAR
• 2024-01-31 Contingent — MAAR
• 2024-01-26 Listed $210,000 MAAR
• 2006-08-01 Sold (Public Records) $138,000 Public Records
• 2006-07-28 Sold (MLS) $138,000 MAAR
• 2006-05-03 Listed $145,000 MAAR

Property tax history

+14.4%/yr

Latest (2025): $2,166 · +105.7% YoY. Source: county tax records.